Ex-DFA chief Yasay fails to get CA remedy in bank fraud arrest

MANILA, Philippines – Former Department of Foreign Affairs (DFA) secretary Perfecto Yasay Jr failed to get relief from the Court of Appeals in trying to nullify a trial court's arrest warrant against him for charges of violation of banking laws.

In a resolution promulgated on September 12, the Court of Appeals (CA) former 9th Division denied Yasay's petition for certiorari to quash his warrant of arrest.

The warrant of arrest, issued by the Manila Regional Trial Court Branch 8 on March 8, was served on Yasay only on August 22. Yasay immediately paid bail and has been released.

Yasay is facing charges of several violations of the Central Bank Act over a case filed against him and 5 others by the Bangko Sentral ng Pilipinas (BSP) for "conspiring and aiding each other" in securing a P350-million loan from the shuttered Banco Filipino Savings and Mortgage Bank while they were officers from 2001 to 2009.

The CA said Yasay's petition for certiorari was premature because he filed similar motions before the Manila court, which have yet to be resolved.

"Clearly, said motions afford the petitioners adequate and expeditious relief because the issue of whether or not the (trial court) acted correctly or erroneously in the issuance of the assailed Order and Warrant of arrest could be raised and was actually raised by the petitioners therein," the CA said.

The CA added: "The premature invocation of the intervention of the Court while said motions are still unresolved is fatal to the instant petition."

Yasay has denied the allegations, saying that the questionable transactions occurred from 2003 from 2006 when he joined Banco Filipino only in 2009. – Rappler.com

 

Lian Buan

Lian Buan covers justice and corruption for Rappler. She is interested in decisions, pleadings, audits, contracts, and other documents that establish a trail. If you have leads, email lian.buan@rappler.com or tweet @lianbuan.

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